The Hindu Business Line : Cinemax to add 62 screens by year-end

Mumbai, July 5 Cinemax would start operations in its single screen theatre — The Red Lounge — at Bandra this Friday, taking the total number of screens in India to 39. The multiplex operator informed the BSE about the same on Thursday.

Speaking to Business Line in an interview earlier, Mr Devang Sampat, Vice-President, Marketing, said Cinemax currently runs 30 screens in 10 theatres of Mumbai and has a presence in Nasik, Himmatnagar and Guwahati.

The multiplex operator is planning to add 62 screens across the country with an investment of Rs 110 crore by December, he said.

To go digital

With the launch of new screens, it also plans to go digital within the next two years, he added.

“For a digital platform in cinema, producers need to make more films digitally,” he said. “It will help cut costs by saving on the heavy printing expenditure,” he added. The company is in talks with producers for mutually sharing the cost of digital movies.

Cinemax is also expanding on ‘Giggles,’ its gaming zone within the cinema foyer. The investment requirement for one gaming zone amounts to Rs 2 crore, Mr Sampat said.

In talks with builders

“One of our gaming zones is functional in Thane and we are introducing hi-tech games and bungee jumping as new attractions in this format,” Mr Sampat said. The company is in negotiations with builders to acquire an additional space of 10,000 sq ft area in the floor pit.

The first two zones will come up in tier-II cities of Nagpur and Rajkot along with multiplexes, he said. “There are not many multiplexes in these cities so we get quality crowd. In fact, Guwahati is doing the best right now,” he added.

Revenues

The revenue from the gaming zones amounts to two per cent of the total proceeds next to advertisements and food & beverages, which are five and 16 per cent respectively. But as the new concept finds takers, Cinemax expects to double the revenue from the zones, Mr Sampat said.